The Town of Queen Creek has been working for nearly 10 years implementing a strategic vision for the Town’s water future, creating a more diversified water supply.
In 2025, the Town purchased 500,000-acre feet of water (over 100 years) from Harquahala Valley, providing proof of concept for this source of water. Harquahala Valley is a water storage basin designated by the State for transportation to other areas. The proof of concept included a hydrology study that demonstrated there is 8.2 million acre-feet of water available for transport over 100 years.
In late 2025, the Town approved funding an additional 1.2-million-acre feet of water using Certificates of Participation (COP) and Water Infrastructure Finance Authority (WIFA) for an amount not to exceed $250 million.
The COPs were sold on Jan. 15, 2026. Deputy Town Manager and Finance Director Scott McCarty shared that the results of the sale were overall favorable. “The first 30 years were more favorable for the Town, and the last 10 years were slightly less favorable than anticipated – ultimately it was a net positive for the Town. The COPs sold with a term of 40 years, an interest rate of 4.9%, and annual debt service of $12.1 to $14.8 million. This funding mechanism was specifically recommended due to the debt service better matching the life of the asset.”…